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Despite stalled growth in China, Brazil and Russia, a wave of newly middle-class travelers from the BRICs and beyond will start visiting international destinations in the coming decades — dwarfing the numbers we’ve seen thus far.
Starwood’s North American properties reached record occupancy in 2013 indicating a rebound in demand across its economy and luxury brands.
Starwood Hotels & Resorts Worldwide Inc. said on Tuesday that it plans to open about 30 new hotels in North America this year, down from the 33 opened last year.
The company currently has 577 hotels in North America. It expects that growing demand and a low supply of rooms will drive growth.
The Stamford, Conn., company is expected to report fourth-quarter results on Feb. 13.
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